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unplugged. superstorm sandy gave life to a new set of scams. find out how to protect yourself. and, why the creator of star wars is giving "new hope" to education. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning everybody. i'm angela miles. it's november 2nd, and it's jobs friday. it may or may not be deal-breaker for voters, but tensions are high over the jobs numbers due out today. it's anticipated 125,000 jobs were added in october, and the unemployment rate edged up to 7.9% from 7.8%. in the latest numbers on jobs, adp reports 158,000 jobs were added to payrolls last month, while the goverment reports claims for unemployment benefits last week fell by 9,000 to 363,000. stocks surged ahead of today's jobs numbers. the dow rallied 137 points, the nasdaq up 43, and the s&p popped 16 pts. gold dropped $4 and oil inched up to nearly $87. tim mulholland of china america capital joins us now from the trading floor of cme group. good morning, good to have you on the show this morning on this jobs friday. > > go
are surfacing about people trying to profit on superstorm sandy by selling gas for as much as $20 per gallon including on craigslist. and finance ministers and central bankers of the g-20 are commiting to stregthen efforts to hold up the sluggish global economy. let's get the feeling from the trading floor with john brady of rj o'brien. happy election day to you. what do you anticipate will happen in market action? > > i think today will probably march sideways. i think most of the attention will be on tonight and maybe the early morning hours tomorrow as regards the election races. now, it's not just the presidential race that will have the markets focused. keep in mind there are 34 senatorial seats that are likewise up for election, and as markets start to look ahead toward the fiscal cliff, which will start wednesday or thursday, as soon as these results are announced, then equations and challenges regarding the fiscal cliff need to be weighed by the market, and that will be the next big trade for the market. > > i think another big wave would be greece, with this new threat of a possibil
that is expected to hit parts of new york and new jersey already devastated by superstorm sandy. mark sebastian of option pit mentoring gives us our first look at the trading day, and what do you anticipate on this post-election day mark? > > well, president obama won, so let's look at what his policies are really going to do. i think he's a weak dollar president. so what does that mean? gold is going to rally, commodities are going to rally. i think you will still have people searching for yield, so the stock market is going to rally. we will see a big sell- off in the vix, and we should see a sell-off in the u.s. dollar as well. > > what do you think about gold and oil here? yesterday they both ramped up. > > we saw both buying ahead of an obama victory. there is a strong belief that gold could make an end-of-year run through its all-time highs toward that $2,000 level. oil is a little more demand-centric, so expect it to test $90, maybe $95 in wti, but i doubt it's going to be testing new highs toward the end of the year. > > as you know, consumer confidence is up. we have retailers repo
to the residents in the northest left without power due to superstorm sandy. let's find out what's on the minds of traders this morning. phillip streible of rjo futures joins us on this monday morning. good morning to you. > > good morning to you. > > what was going on with that sell-off on friday? was that classic buy-on-the-rumor-of- the-jobs-number and then sell- off-on-the-news? > > it was really interesting. i mean, traders started to jump in and we got some momentum after the number came out. the number was perceived very well, and we saw that push upwards. but as the day progressed, traders became more and more concerned about the election that's going to be tomorrow and what the results will be. so, it felt wise to maybe take some money off the table, stand aside and get back to safety. > > the market hates uncertainty. money though was moving out of gold. what is that telling you? > > that was actually very interesting, because we would have thought that that safety play would have been a push into the metals. but in all reality, it was more of a repatriation back to the dollar, sellin
Search Results 0 to 3 of about 4